facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Texas

/

Senior Housing

/

Loan

/

1222 Park West Green Drive

Updated Dec 4, 2024

LTC Properties Inc Provides $12.7M Acquisition Loan For Katy Senior Housing
FINANCEDSenior Housing

LTC Properties Inc Provides $12.7M Acquisition Loan For Katy Senior Housing

1222 Park West Green Drive

$12,700,000

Units

78

Asset Type

Senior Housing

Closing

Apr 12, 2024

About this deal

AI

The senior housing property located at 1222 Park West Green Drive in Katy, comprising 78 units and 104 beds, was acquired through a $12.7 million senior loan provided by Wendy Simpson of LTC Properties Inc. The loan, an acquisition loan, features full-term interest-only payments over five years at a rate of 9.15 percent. Additionally, approximately $800,000 will be allocated for campus improvements.

Summary of transaction details:

  • Property Type: Senior Housing
  • Transaction Amount: $12,700,000
  • Units: 78
  • Beds: 104
  • Address: 1222 Park West Green Drive
  • Market: Katy
  • Lender: Wendy Simpson - LTC Properties Inc
  • Loan Type: Acquisition Loan
  • Loan Terms: Five-year loan with full-term interest-only payments

LTC Properties Inc., a real estate investment trust specializing in senior housing and healthcare properties, granted Ignite Medical Resorts the senior loan for the acquisition of the skilled nursing and assisted living campus in Katy. Ignite Medical Resorts will utilize the loan to enhance the campus and further its mission in providing quality healthcare services to the community.

On the Map

Open live map

$12,700,000

Senior Housing

View full map

Players

LTC Properties
LTC PropertiesLender
Bilt advertisement

Katy Senior Housing Market Snapshot

Boundary boundary · Senior Housing · Loan transactions

Loading comparables…

Deal FAQ

About $162.8K per unit across 78 units on a published $12.7M (2024).

Browse Katy senior housing loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

1.25%

Cash-on-Cash

-0.36%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets